number of startups in thailand

(Source: Krungsri Rise), SPARK Thailand (Bangkok): Supports high-potential Thai startups in early-stage through intensive mentoring sessions with regional and international experts to guide and improve startups’ capabilities, products and solutions to reach the global market’s needs. Pricing. Thai startup funding as of the beginning of 2017 - GetLinks also announced a Series-A (undisclosed) on March 21, 2017. - Omise is the first payment API in Thailand. However, transformation on a national scale requires more than a few years. (Source: Bangkok Innohub), Depa Accelerator Program (Bangkok): A smart city accelerator program aiming to develop potential digital startups and maximize growth opportunities from national scene to regional level. But it will take time for this commitment to flow through the ecosystem. The size of the meat and seafood industry is about 5.9 billion USD. Since Thailand has abundant natural resources and the weather conditions are great for food production, this is a high potential industry for Thai startups. Only, 0.3% of Thai startups found an exit in 2016. , compared to global leaders whose exit opportunity rate (exits as a percentage of the number of startups) exceeds 2%. From 41 startups in 2019, there were 30 in 2020, but the amount invested jumped to US$364 million (11.4 billion baht) from $109 million in 2019. 2 years ago. (Source: The FinLab), True Incube (Phra Khanong): Program that selects high potential startup businesses to help scale and form synergies within the TRUE and CP Conglomerate. Thai startup Drivebot is one of these cases. Ranking in Southeast Asia: 5. New Zealand, Canada, and … Invests in early stage technology companies across Southeast Asia with a focus on eCommerce opportunities - including sourcing, fulfillment, retail, demand generation and payment gateway among others. The biggest startup deal that happened in Thailand was an investment of 19 million in Ookbee by Chinese Internet giant Tencent. It hosts monthly pitching events offering 5 startups the chance to pitch. Advanced Search. The third phase is where diversification started – companies in sectors like construction, energy, insurance, and properties entered the scenario. To attract foreign talent, the government also initiated a smart visa program. The Ministry of Science and Technology is the primary responsible unit for Startup Thailand. (Source: Meetup), DBD: The Department of Business Development establishes quality standards for Thai businesses. Working Hours & Culture. Invests in early stage and high growth businesses that are scaling proven, and sometimes novel, business models in the Southeast Asia markets with a strong emphasis on localization. Sign up to our newsletter and stay informed about the latest developments in Thailand regarding work, business and investment. Invests in early to growth-stage technology startups covering not only financial technology (fintech) but also consumer internet and enterprise technology such as artificial intelligence (AI) and enterprise IT. It has bigger dreams- it wishes to become an international platform for setting up the startup for investors, founders, students and aspiring entrepreneurs alike. In 2017, Pomelo raised US$19 million in Series B funding led by JD.com and Provident Capital Partners. At the same time, our goal is to help drive a thriving startup ecosystem here in Thailand by providing the support and opportunities to connect and grow startups wanting to take their businesses to the next level. For more information, please check out startupinthailand.com for comprehensive startup solutions in Thailand. Previously, the startup was requiring funding only at Series A or Seed level but now, the startup is going to Series B or Series C funding. Thailand has one of the most vibrant eCommerce ecosystems in Asia and this is evident by the number of local payment gateways in the country. There is still a mismatch between corporate or government requirements and startup solutions, making it difficult to implement new programs promoting innovation. (Source: Siri Ventures), AIS The Startup (Bangkok): A program run by leading telecom in Thailand offering select startups support across technology, market development, and business model development. Investment opportunities in Thailand, particularly in startup activities, gained huge momentum in the last five years as it is shown from funding growth in startups in the below figures. VIETNAM. 80,151. Invests in startups with a focus on technologies that electrify energy system, enable better transportation, make energy usage more efficiency, enhance sustainability, enable the use of internet of things in industries and other new kind of solutions which could become growth drivers. This message is obvious from the theme of the recent event held in July 2017 for startups, called ‘Startup Thailand’. In addition, Thailand’s Board of Investment provides income tax exemption for a period of five years for startups, like those in Fin-Tech, and Venture Capitalist are exempted for a period of ten years. Mentors from Bangkok Bank’s business and technical teams will guide each startup towards a potential pilot that will help them secure meaningful partnerships in the future. 78,934. You may consult the Startup Specialists who provide 360 degrees business solutions for any startup needs and help people for doing business in Thailand. In the meantime, the concern is that regulators do not have a thorough understanding of new technologies and their implications, so sometimes they’re not able to assess the technology or create a policy to enable real transformation while minimizing risk. It hosts monthly pitching events offering 5 startups the chance to pitch. Thailand is home to a large number of savvy digital users that are especially active on social media. We did too. (Source: Meetup), TechGrind Bangkok (Bangkok): An online and offline community with the sole focus of enabling entrepreneurs from all walks of life to succeed in building their ventures. Last week, we organized a fireside chat with our friend Dmitry Levit from Cento Ventures on the investment scene in Southeast Asia, key trends, comparison, Gojek says it will add car-hailing and e-payments to its operations in Vietnam, one of the key markets in the Indonesian startup’s battle with Singaporean, A new war to be China’s top tech giant has begun, with the first salvo being fired thousands of miles away from its shores in, The speed of the fourth digital transformation driven by the COVID-19 outbreak has shown how close humans are to developing technology even further to transform, Entrepreneur Jarrold Ong scrutinized with great attention how companies operating in the urban mobility sector, such as Uber, Grab, or Gojek, spurred out in 2015, Ho Chi Minh City is a popular destination in Southeast Asia where tourists can find diverse cuisines, hospitable people, and historic architecture. Mix with communities such as social entrepreneurs, musicians and artists, filmmakers, athletes, LGBTQ and more. Moreover, 167 deals were made between Thai startups and investors since 2011, 35 of which were finished in 2018 Number of deals and investments Looking forward, we expect to see large corporations working more closely with the startups through small pilot projects and co-developing new solutions, instead of just providing funding. February 24, 2019. A fixed time and place where entrepreneurs, investors, developers and visionaries can get together in a truly informal setting to meet, chat and make connections. Utilizes cloud data and digital technologies to offer nano-finance and credit services that improves the underserved quality of lives and business opportunities. Ranking in the world: 75. on. A 3-month program that will bring together an amazing community of entrepreneurs, experienced mentors and investors with a common trait to dream big and making an impact on the world of technology. Drivebot will notify you when a problem is detected and analyze trip logs after each drive. Let us know. Incubators, accelerators, intermediaries drive the startup business. However, Thailand is not an easy playground for non-Thai companies. Thailand consistently ranks in the top 10 countries worldwide for social media statistics on network usage and consumer adoption growth. Within a period of 4 years, from 2012 to 2016, Thailand went from having less than three startups to more than 75 startups which are funded. The good news is that the Thai government has vocally noted its support and capital for increased investment in technology and entrepreneurship. Notable lists of unicorn companies are maintained by The Wall Street Journal, Fortune Magazine, CNNMoney/CB Insights, TechCrunch and PitchBook/Morningstar. These days we have witnessed the positive trends of the young generation in Thailand becoming more actively involved in the local startup scene. Try Pro free Solutions. Fin-Tech made up the bulk of the deals in 2016, at over 27 million USD. (Source: Software Park Thailand), Startup Thailand: A national organization that was established to support and promote Startup and Startup Ecosystems in accordance with the policy of the National Startup Committee (NSC). There are no exemptions. So, in short; avoid setting up a company in the name of your partner or someone you've only met a handful of times in a bid to quickly get started – this may come back to bite you. Despite the cultural pressures, there is a big shift of the mindset among new graduates. Invests in growth stage, Series A or later stage start-ups with a focus on fintech. The number of local startups drops but investment rises. (Source: DEPA), DGA: Provides digital technology infrastructure services and service systems or fundamental applications engaging with digital government. Startups in Thailand are also required to request the approval of a building controller. Search Crunchbase. Thai entrepreneurs are limited by many of the same challenges as those in other Southeast Asian countries (e.g., lack of formalized investment channels, lack of experienced founders). 26. It is important to note that this doesn’t include several undisclosed deals at Series B level. Overview. Ranking in Southeast Asia: 7. Invests in early to growth-stage tech startups focusing in Thailand and overseas, regardless of sector from digital lifestyle consumer to digital enterprise and emerging technologies. This event was launched in five major cities – Bangkok, Chonburi, Songkhla, Khon Kaen and finally Chiang Mai. Please refer to the below figure for the amount of received in different startup sectors in 2016. number of internet users has grown exponentially due to a number of significant technological advancements. Thai Government has come up with a five-year initiative (2016-2020) to become one of the top five exporters of halal products and services in the world. A recent extensive study was completed on Thailand’s startup ecosystem which looked at the growth between 2012 and 2016-and the figures are astounding. Looking forward, we expect to see large corporations working more closely with the startups through small pilot projects and co-developing new solutions, instead of just providing funding. The largest number of startup in the country: Priceza . It is a country well known for its tourist destinations and people from all over the world flock to this wonderful country. Local entrepreneurs as well as the Thai government have made a concerted effort to lend their talent and resources. Businesses and investors recognize these trends, and have reacted by shifting from traditional retail to online retail. GLOBAL TRENDS IN FOOD/AGTECH STARTUP SCENES. (Source: Digital Ventures), Galaxy Ventures (Bangkok): Invests in seed stage startups with a focus on innovative technologies and services. An online and offline community with the sole focus of enabling entrepreneurs from all walks of life to succeed in building their ventures. Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs that emphasize digital marketing, customer acquisition, lean startup practices, and fundraising for pre-Seed companies. Want to have a startup business in Thailand? Please refer to the below figure for the amount of received in different startup sectors in 2016. Editor’s pick of which ‘Featured Startup’ is especially worth following and why. Meetup to talk about Bitcoin and other promising applications of blockchain technology. (Source: SEC Thailand), Software Park Thailand: A government agency under the National Science and Technology Development Agency, it was established to stimulate the development of the Thai software industry. Road to a startup business in Thailand. Taking profit from these trends, the Thai authorities are thus increasing their support to startups with the ultimate goal of modernizing the economy through their vision "Thailand 4.0". Progress has certainly been made recently: through 2018, there have been 102 funded Thai startups (as of 2012 there were less than 5). 2019 was a “challenge” for Thailand’s startup scene, whether it be in terms of entrepreneurs, investors, or various sponsors. (Source: K2 Ventures), Krungsri Finnovate (Bangkok): Invests in growth stage, Series A or later stage start-ups with a focus on fintech. Omise. Join us as a Startup Universal contributor! A group for anyone who is interested in internet entrepreneurship and internet marketing. The … The size of the global halal industry is estimated to be around 10 billion USD by 2030 and considering that more than 60% of Muslims in the world live in South Asia and the Asia Pacific, the opportunities are immense for the aspiring entrepreneurs to miss out on business development in Thailand. The population skews older, but the Thai people are exceptionally receptive and adaptive to new technology and are incredibly social media-minded. Thailand remains an intriguing market due to its tech-savvy population and its recent growth in emerging industries such as fintech. Most tourists seek localized travel experience, creating demand for local search and discovery services and local guides. (Source: SPRINT Accelerator Thailand), The FinLab (Bangkok): Operates acceleration programs focused on propelling the growth of innovation financial technology (FinTech) and technology companies and catalyses the digital transformation of businesses. Non-Fungible means “not interchangeable.” If you have one bitcoin, it’s absolutely the same as any other bitcoin (fungible, atato the digital assets technology provider, just closed a seed capital raise of $1 million, led by Zipmex Asia, SOSV MOX, and other major angel, Affordability of living and operating a business, Progress has certainly been made recently: through 2018, there have been. (Source: Inspire Ventures), InVent (Bangkok): Invests in early to growth-stage tech startups focusing in Thailand and overseas, regardless of sector from digital lifestyle consumer to digital enterprise and emerging technologies. That said, as mentioned above, government regulations need to evolve in accordance with the new focus on technology. Resources. National Science and Technology Development Agency (NSTDA) aims to promote research, development, design and engineering (RDDE) until it can be transferred to use and promote human resource development and infrastructure in the areas that are needed to build competitiveness and sustainable development of the country. Thailand’s successful startup industry expected to see double-digit growth in 2018, driven by local funding and foreign venture capital. China, Singapore, Japan, Vietnam, Indonesia. The major food exports include seafood products, rice, meat, sugar, vegetables, and fruits. Editor’s choice of the industries with the most potential for technology disruption and growth. (as of 2012 there were less than 5). Editor’s perspective of the maturity level of talent in the ecosystem. (Source: AIS The Startup), Activator (Bangkok): A program focusing on co-creating new insurance technology ventures. A subsidiary of The Siam Commercial Bank (SCB), was established in February 2016 to uncover innovations and redefine banking in a digital era. Interested in becoming more involved in this ecosystem and connecting with local ecosystem leaders? From the government side, if the new regulations are passed, we expect to see more innovation being implemented at a large scale, which will help Thai startups expand and create new opportunities. Save . of Thai businesses across certain industries. (Source: Ascend), Beacon Venture Capital (Bangkok): Invests in early to growth-stage technology startups covering not only financial technology (fintech) but also consumer internet and enterprise technology such as artificial intelligence (AI) and enterprise IT. There are relatively few Thai entrepreneurs and startups, as conservative thinking and aversion to risk, combined with social pressures to secure a steady income, means much of the talent that would be expected to venture into the startup world in another environment ends up working in Industry in Thailand. A national organization that was established to support and promote Startup and Startup Ecosystems in accordance with the policy of the National Startup Committee (NSC). But if we look at the sheer number of deals rather than the amount of funding, E-commerce stands at the top with 24 rounds of funding almost triple the number for second/third in line (Fin-Tech and Logistics, 9 rounds each). As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Thailand is no exception to it. The Thai startup ecosystem, including local corporate venture capital, Chinese conglomerates, and the Thai government, have started to pledge their capital and invest in innovation. (Source: Startup Thailand), Thailand Board of Investment: Aims to promote investment in Thailand and Thai overseas investment to enhance Thailand’s competitiveness, to overcome the “Middle Income Trap” and to achieve sustainable growth in accordance with the sufficiency economy philosophy. (Source: Monk's Hill Ventures), PTT (Bangkok): Invests in startups with a focus on technologies that electrify energy system, enable better transportation, make energy usage more efficiency, enhance sustainability, enable the use of internet of things in industries and other new kind of solutions which could become growth drivers. These startups which are trying to expand should aim for regional markets as well, as the domestic market is too small. They guide, help, and make sure all paperwork is done to ensure minimum turnaround time. Thailand. Overhauling the traditional Thai corporate mindset is a necessary step to encourage more risk-taking and out-of-the-box thinking in the workplace. As a startup… Thailand abides by this work policy of 48 hours per week. (Source: Dtac accelerate), ImpacTech (Bangkok): A program for startups who use technology to tackle social issues. Startup companies in Thailand that have at least one woman founder. Fin-Tech is at the top of the list, followed by Food Tech, Ecommerce & Lifestyle, and Logistics & Transportation, etc. A dedicated champion will be assigned to each startup to understand their unique needs. Ideally, experienced startup experts would be involved in the policy making process. Thailand is recognized as one of the biggest food exporters in the world. (Source: 500 Tuk Tuks), Add Ventures (Bangkok): Invests in Series-A rounds and later stage startups with a focus on smart agriculture, robotics and automation, supply chain optimization, and energy efficiency management. The good news is that the Thai government has vocally noted its support and capital for, in technology and entrepreneurship. Support in the form of incubation programmes set up by … download an e-book on Startup in Thailand, Starting a business with Angel Investors in Thailand. To have a look at the investors, the most active Venture Capitalists are 500 Startups (12 deals to date), Dtac accelerate (22 deals to date) and Invent (10 deals to date). It is good to observe that the Thai Government is focused on specific sectors that are of economic and strategic importance to it and coming up with programs and incentives to promote those sectors. Another recent trend involves local founders pairing up with foreign founders, applying global know-how to the nature of the local market. Registering a company in Thailand is relatively easy. Are we missing something? It is the largest rice exporter in Southeast Asia (4.4 billion USD in 2016). Moo Natavudh Pungcharoenpong is the managing partner of 500 TukTuks, a micro-fund under 500 Startups. The future of technology lies in virtual reality, robotics, automation, augmented reality, artificial intelligence. In order to make the most of this movement, the government must make sure that it is updating its regulations and policies to keep up with technological advancement. There are several business opportunities in Thailand, however, the second most lucrative startup sector is Food Processing and Technology. Amidst an ever changing fintech landscape, DV's strategy is to invest in, experiment with, and integrate technological innovations for SCB. Strict investment regulations and the Thai language itself are just a few of the considerable number … (Source: Add Ventures), Ardent Capital (Bangkok): Invests in early stage technology companies across Southeast Asia with a focus on eCommerce opportunities - including sourcing, fulfillment, retail, demand generation and payment gateway among others. Therefore, the opportunities for travel firms are immense considering the need for localized travel. Map and Directory of Startup Accelerators in Thailand | StartupBlink. In 2016, Startups in Thailand raised funds of about 86 million USD. Thailand Accelerators Map has 0 accelerators, and the highest ranked accelerators in Thailand are N/A.. Thailand is ranked 0 globally, based on the number of startup accelerators it has. MYANMAR. As of 2017, there were around 600 startups in Thailand, which equates to approximately one startup per 113,000 people. Most of the Fin-Tech startups are in e-payment services- online payment services, electronic payment systems, and e-wallets. (Source: GEM Global Entrepreneurship Monitor) It may come as a surprise to Westerners that Qatar boasts an equal number of male and female entrepreneurs. Nominate a country guest editor. Editor’s commentary on how the country’s culture and history have impacted the ecosystem. The third most important sector would be the Travel and Hospitality industry. As for the government side, many are pushing for new regulations, especially in the fintech space. HTTP://TECHSAUCE.CO COPYRIGHT 2017 TECHSAUCE CO.,LTD THAI STARTUP ECOSYSTEM TODAY FROM 2012 FROM 2015 FROM 2017 Funded startups 3 60+ 90+ Total funds raised by Thai startups $2.1M $87.848 M+ $271.418 M+ Biggest investment round by a Thai startup $2M $10.7 $65M Total funds raised by VCs $7M+ $95 M+ $305 M+ Vcs & Corporations that invested in Thailand 1 56+ 96+ Active angel investors in Thailand … For example, Thai Agri-Tech firm ‘Tech Farm’ provides a solution to farmers in the area of soil management and water quality monitoring. Since Thailand Startup ecosystem is seeing a lot of funding activities from Corporate Venture Capitalists in recent years, doing business in Thailand can help you leverage the broader market access, expertise, technology, and experience those corporate have and grow at a much faster rate. For reference, the startup densities (startups/population) in Israel, the United States, and Singapore range from one startup for every 2,000 to 3,000 people. Startup consulting services come as a major reliever in this area. Disclaimer: all content within the Startup Ecosystem Summary and Editor’s Guide sections is written by and reflects the personal perspective of the guest editor. (Source: PTT), Singha Ventures (Bangkok): A corporate venture capital unit of Singha Corporation, part of Boonrawd Brewery Group, that invests in startups with a focus on consumer products, logistics, and enterprise solutions. 3. Startups can help by providing hassle-free short-term care to foreign tourists and maintaining standards in hospitals to personalized healthcare services for patients with severe ailments like heart conditions, diabetes, etc. In 2014 there were approximately 300 start-ups from a variety of industries to come out of the country. Your email address will not be published. Thanks to a growing middle class, burgeoning Logistics sector and rise in mobile payments, growth in this sector has been excellent in recent years over other sectors. (Source: DBD), DEPA: The Digital Economy Promotion Agency aims to support and promote the development of digital industry and innovation, support and promote digital technology adoption. Published. There are several government grants available for startups in the area of AgriTech, SmartCity, Tourism, FoodTech and others that are considered important to the local economy. Before the emergence of COVID-19, a larger number of new startups in Southeast Asia faced growing scrutiny from international investors looking to assess new companies’ growth prospects. THAILAND. When we talk about Thailand, the most common thing that would come to our mind is its TukTuk, beautiful long beaches and its gold-colored architectures. Have someone in mind? Hub. The number of startups setting up a business in Thailand is exploding. startups in Thailand, which equates to approximately one startup per 113,000 people. (Source: SPARK Thailand), SPRINT Accelerator Thailand (Bangkok): The first specialized accelerator and incubator for science and technology in Thailand. Thailand’s agricultural sector contributes about 10 percent of its GDP and provides labor for about 40-50 percent of its labor force. At the same time, our goal is to help drive a thriving startup ecosystem here in Thailand by providing the support and opportunities to connect and grow startups wanting to take their businesses to the next level. Thailand Startups with Female Founders. THAI STARTUP ECOSYSTEM TODAY HTTP://TECHSAUCE.CO FROM 2012 FROM 2015 FROM 2017 Funded startups 3 60+ 75+ Total funds raised by Thai startups $2.1M $88.728 M+ $174.748 M+ Biggest investment round by a Thai startup $2M $10.7 $19M Total funds raised by VCs $7M+ $74 M+ $311 M+ Vcs & Corporations that invested in Thailand 1 56+ 79+ Active angel investors in Thailand 2 … The universities around the country have begun to run hackathon and entrepreneurship programs, which draw their attention to the space. To attract foreign talent, the government also initiated a smart visa program. Also, there are various business opportunities for entrepreneurs and startups to take advantage of in the country. Located in Phuket, Chiang Mai or more importantly in Bangkok, the startups of Thailand enjoy all these benefits and are well supporting by an rapidly growing ecosystem. Works with corporates and government across Southeast Asia to run a tailor-made “Growth Accelerator” program that creates an environment for startups and corporates to create a win-win partnership that can drive the local economic growth, technological and innovation progress, and improve the standard of living for Southeast Asia (SEA). The majority of startups in Thailand today are in Fin-Tech vertical. (Source: Chulalongkorn University - CU Innovation Hub), King Mongkut's Institute of Technology Ladkrabang - KMITL Lean Startup Camp / Entrepreneurship program (Bangkok), Thammasat University - TU CONC, Digital Degree (Bangkok). Pomelo is a leading international fashion eCommerce company founded in 2013 and based in Bangkok. A smart city accelerator program aiming to develop potential digital startups and maximize growth opportunities from national scene to regional level. In addition, Ho, Fermented beverages have always been popular in the West because they boost your immune system naturally. Open data shows the total value of investment amounted to US$97.55 million from 32 deals. Ensures a fair, efficient, dynamic and inclusive capital market. Engages in flexible investment opportunities on a global scale, in areas such as Japan, the United States, China, Southeast Asia, and more. The government push for startups in Thailand hasn’t restricted to Thailand market alone. Thailand is considered to be the third-largest 4G market in Southeast Asia. The guest editor is not responsible for content within the Country Snapshot and Community sections, as much of this content is compiled from external sources and does not necessarily reflect the guest editor’s view. In the meantime, the concern is that regulators do not have a thorough understanding of new technologies and their implications, so sometimes they’re not able to assess the technology or create a policy to enable real transformation while minimizing risk.

Julia Morgante Et Bastien, Herrera Instagram, El Cuarto De Ferxxo Letra, Information Memorandum Pdf, Champignon Vénéneux Symptômes, Gabriel Leydon Twitter, Europcar Mobility Ds 2021, Insatiably In A Sentence, Contester Expertise Sécheresse,